Forexlearner wrote: Sat May 13, 2023 2:04 am
i've been following the day looking at the dashboard, trying to learn how it works, and I've got a question/doubt/suggestion, not sure what to call it
please be patient if i have trouble to explain or even worst if what i say doesn't make sense, as i never fully master the xard system, but I'm trying and i think this dash is helping me a lot
Anyway, in these 2 cases the trend keeps going but the the semaphore goes against all the other signals. As much as i can understand as soon as it hits a top of bottom and the trend goes back a bit it stops registering, and it makes sense in the context that it's just a entry signal and the trend might revert at that point.
Now this may get confusing but i will try to explain, as much as i can understand (and correct me if i'm wrong) the signals and alerts only come at the 15 minute candle close, so we may miss an entry, in this time between it's all the same colours and the trend finds a new momentary top.
edit: in an extreme it may miss the trend all together if by chance at all the 15 minute candle close it is in a small correction
Not sure how the EA works as i can't even use EA because my broker doesn't support MT4, so here is the thing:
Going back to the exit strategy Funchi was asking about a bit earlier, maybe a option, a new column, idk exactly what, that kept the indication to stay on the trade if all the signals are on the same direction, same candle colour, above open line, etc... even if momentarily the signal is no longer coherent with the rest because the price reversed a bit momentarily as it always does. This could be our "stay in the trade" indication, until one of the other signals reverse, the candle at the 15 minute close changes colour would be the fist indication i guess, to a neutral colour or a reverse colour.
This could be useful for a EA, but like i said i can't use EA's so a different indication on the dashboard to stay on the trade and then exit with an alert would be awesome.
My opinion. My trade.
I enter the market in a 4 hours time frame trend, timing my entry on the 30 minute time frame.
I may change the time frame,
I enter a trade in a trend on the higher time frame by timing my entry on the lower time frame.
What is my trend?
Dow Theory trend definition.
I don't like drawdowns, so I am aware of the slope of the MA in Granville's Chart Theory.
What is my timing?
I condition my entry on,
If the stop loss is far away, I do not enter.
Thus, if I am in a trend on the higher time frame,
I do not wait for the candlestick to be confirmed on the lower time frame.
I will entry at a position as near as possible to the stop loss. I want to make an entry.
In extreme cases, if we ignore the depth of drawdown,
I can find a time frame for entry in any currency pair.
In other words, the signal is confirmed,
Not the previous candlestick,
The current candlestick, not the previous one, should be fine.
The 15-minute time frame is confirmed, but the 1-hour time frame is not yet confirmed.
Even if the 1-hour time frame is fixed, the 4-hour time frame is not yet fixed.
I will enter anytime there is a break of an important price.
However, only if there is a trend in the higher time frame.
I believe that drawdowns after entry are necessary.
There is a possibility that it will not reverse, so I will not hesitate to make an entry.
Is that an answer?
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I understand the exit strategy signal display.
I can display exit signals,
I have not had any requests for it until now,
We have been displaying the exit signal when one of the signals is different from the other.
Currently, I am sure that the signals are too early.
As is the case with EAs, exit signals are created by combining each signal.
EA also leaves most of the exits to the dashboard.
EA has other functions, but I won't go into them here.
However, it is not difficult to do.
As an example of an exit signal 1,
The exit signal is displayed when a large semafor indicating a reversal is displayed and the candle changes color.
Example 2,
A large semafor indicating a reversal is displayed.
The color of the candle has changed.
The trendline is crossed in the opposite direction.
The exit signal is displayed when either of the two conditions is met.
Also, as discussed in a previous post,
FNC_dashboard creates a signal with one previous candle.
I am looking into being able to create signals with the current candlestick.
Do you have any requests for exit signal conditions?
Is that an answer?
